Korea Prepares ‘New Start Fund’ to Ease SME Debt Burden

31/08/2022

Individually owned enterprises or small merchants hit by Covid will be able to apply for debt adjustment starting in October.

ESG / Sustainability

More Sustainability Roles Emerging in Finance, Accountancy Sectors

31/08/2022

A study published by ISCA, EY, SMU and SAC identifies three trends in sustainability that will expand the current job roles and skills required for accountancy and finance professionals.

Big Picture

BIS Examines Adequacy of Operational Resilience Requirements

31/08/2022

Bigtech groups that are interconnected within the financial industry should be subject to group-wide requirements on operational resilience.

Korea Unveils Measures to Address Revolving Credit Concerns

31/08/2022

Credit card revolving services charge high interest rates, lead to poor credit scores for consumers, and raise the risk of delinquency.

Capital / Liquidity

BSP Approves Guidelines on Large Exposures Monitoring

31/08/2022

The guidelines set out the criteria banks should use to assess economic interdependence between connected counterparties, among other requirements.

AML / KYC

Indian Banks Inconsistently Reporting Fraud Incidents to Regulator

31/08/2022

Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.

Market Infrastructure

Singapore Industry Group Launches New Funds Settlement Utility

31/08/2022

The utility will reduce manual steps, centralise processing, and facilitate reconciliation, thereby reducing settlement time and improving efficiency.

Fintech / Regtech

Grab-Singtel Digital Bank Set to Launch First Financial Product

31/08/2022

GXS Bank will launch a savings account product on 5 September, and expand into wealth and credit products over the coming months.

Securities / Derivatives

China to Reintroduce Approval System for Offshore Debt Issuance

31/08/2022

The NDRC is reverting to its pre-2015 approval-based system for companies looking to issue offshore debt with a maturity longer than one year.